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Which of the following is the correct order for preparing the financial statements? A. Balance sheet, statement of stockholders' equity, and income statement. B. Balance sheet, income statement, and statement of stockholders' equity. C. Statement of stockholders' equity, income statement, and balance sheet. D. Income statement, statement of stockholders' equity, and balance sheet. Retained Earnings represent a company's: A. Net income less dividends since the company firs started. B. Undistributed net assets. C. Extra paid-in capital. D. Undistributed cash. During 2012 and 2013, Supplies, Inc. drove the truck 15,000 and 22,000 miles, respectively, to deliver merchandise to its customers. The company originally purchased the truck at the beginning of 2012 for $125,000. If the truck has a estimates life of 10 years and 300,000 miles, with an estimated residual value of $25,000, what answer of depreciation expense should. Supplies Inc. record in 2013 using the activity method? A. $11,000. B. $18, 500. C. $7, 500. D. $16,000. The employees of Neat Clothes work Monday through Friday. Every other Friday the company payroll checks locating $32,000. The correct pay period end on Friday ends on Friday, January 3. Neat Clothes is now preparing financial statements for the year ended December 38. What is the adjusting entry to second accrued salaries at the end of the year? A. Salaries Payable 22, 400 Salaries Expenses 22, 400 B. Salaries Expenses 6, 400 Salaries Payable 6, 400 C. Salaries Expenses 9, 600 D. Salaries Payable 9, 600 Kansis Enterprises purchased equipment for $60,000 on January 1, 2012. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. the straight-line method, depreciation expense for 2013 and the book value at December 31, 2013 would be. $12,000 and $36,000 $12,000 and $31,000 $11,000 and $33,000. and $38,000